Mark Cuban commented this during his AMA on r/wallstreetbets today. He affirmed that WSB has power and that they “leveraged the value of community” and next time around the group will be better prepared.
“That said, you will do all this again. You will go after WS and the next time you will be smarter,” he wrote. “There was only one thing that messed you all up: RobinHood and the other zero commission brokers that everyone used did not have enough capital to fund the fight. They let you down in a big way.”
He points to something that is common with freemium-based products: they often don’t work if too many people use them, and they provide limited functionality, (i.e. significantly less capital, infrastructure, etc.)
Definitely some valuable lessons to take from all of this. Even in regard to buying $GME, it’s a good thing every now and then to get a good beatdown and take a loss. Holding and not selling when others may be getting scared is a crucial part of building long-term wealth.
With that being said, “If he’s still in, I’m still in.”
-TFF
Leave a Reply